Tiger's independent adviser says SIA offer is 'fair and reasonable'

Singapore

THE independent financial adviser to the board of Tiger Airways Holdings has given a "fair and reasonable" opinion on the offer by Singapore Airlines for shares in the budget carrier that it does not already own.

Its recommendation is that shareholders accept the offer, unless they are able to obtain a price higher than the offer price on the open market, taking into account transaction costs.

SIA, a 56 per cent shareholder of Tiger, in November offered to buy up all the Tiger shares it did not own at 41 Singapore cents per share and to grant a…